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Offline freeworld

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Poker DAC
« on: December 21, 2013, 11:33:44 PM »

Whoever makes a poker DAC will be my hero!  Should be very profitable, the rake can be allocated appropriately to shareholders/miners/operating costs etc. 

Is this a viable idea? can also include other casino games blackjack/roulette etc. 

Offline MrJeans

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Re: Poker DAC
« Reply #1 on: December 22, 2013, 01:17:13 AM »
Yes this does sound like a very cool idea.

A good place to start may be to run a DAC that allows players to play blackjack against the house (the DAC).
It would be a simpler way to start and then expand into other games.

A pool of shares can exist upon DAC creation to act as the house money pool for people who win against the house.

People would mine shares and use them to play. If the house reserves increase to a certain threshold above the initial pool value, the extra funds can be distributed among shareholders as profits.

And ya, I do enjoy a good game of poker  :P

Offline devilfish

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Re: Poker DAC
« Reply #2 on: December 22, 2013, 01:21:34 AM »
A good place to start may be to run a DAC that allows players to play blackjack against the house (the DAC).
It would be a simpler way to start and then expand into other games.

How would you keep the house money in a decentralised and transparent manner that won't result in someone just taking all the money?
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Offline devilfish

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Re: Poker DAC
« Reply #3 on: December 22, 2013, 01:23:25 AM »
I've been thinking about this, have several different ways to implement this but I'm working on another DAC first which will hopefully allow me to make a poker DAC and eventually a full blown decentralised casino. Vegas will be playing catch up by the time I'm done.
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Offline MrJeans

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Re: Poker DAC
« Reply #4 on: December 22, 2013, 09:36:02 AM »
I've been thinking about this, have several different ways to implement this but I'm working on another DAC first which will hopefully allow me to make a poker DAC and eventually a full blown decentralised casino. Vegas will be playing catch up by the time I'm done.
Hahaha love the motivation! Let us know when you start.
Is it the AP,DAC that you working on now?

I'm very keen for a profitable DAC (that honors the PTS agreement) to launch. This will provide a good capital injection for Invictus (through the DAC and through PTS going up) and get that BitShares out sooner.
« Last Edit: December 22, 2013, 09:51:52 AM by MrJeans »

Offline MrJeans

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Re: Poker DAC
« Reply #5 on: December 22, 2013, 09:47:55 AM »
A good place to start may be to run a DAC that allows players to play blackjack against the house (the DAC).
It would be a simpler way to start and then expand into other games.

How would you keep the house money in a decentralised and transparent manner that won't result in someone just taking all the money?

It could be worked into the protocol, that the only way the house money is able to be transferred out is through someone winning, through playing BlackJack. So the information about how much money is in the pool is stored in the blockchain a decentralized way.

Offline devilfish

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Re: Poker DAC
« Reply #6 on: December 22, 2013, 10:32:43 AM »
Yeah that would work. You would need to factor in the amount of money the house would require to startup when seeking funding for this DAC so it doesn't go bankrupt. You could calculate this by limiting the number of players to a table, the number of tables and setting a maximum bet size. Then you'd just work out the worst case scenario based on those figures and you'd have the amount you need.

A poker DAC could work without a house as the players are playing for each others money. Just take a small fee (1% for example) from the player who wins each hand and there's the DAC's profit.
« Last Edit: December 22, 2013, 10:36:39 AM by devilfish »
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Offline MrJeans

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Re: Poker DAC
« Reply #7 on: December 22, 2013, 02:26:16 PM »
Yeah that would work. You would need to factor in the amount of money the house would require to startup when seeking funding for this DAC so it doesn't go bankrupt.
The house pool can simply exist upon DAC launch and wouldnt need to be funded by anyone. This should not devalue the BlackJack-coins as one would only gain access to this pool through winning. The BlackJack-coins would still be hard to get even if the DAC starts out with a large pool.

You could calculate this by limiting the number of players to a table, the number of tables and setting a maximum bet size. Then you'd just work out the worst case scenario based on those figures and you'd have the amount you need.

I like this logic :)

Offline devilfish

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Re: Poker DAC
« Reply #8 on: December 22, 2013, 02:33:27 PM »
Yeah that would work. You would need to factor in the amount of money the house would require to startup when seeking funding for this DAC so it doesn't go bankrupt.
The house pool can simply exist upon DAC launch and wouldnt need to be funded by anyone. This should not devalue the BlackJack-coins as one would only gain access to this pool through winning. The BlackJack-coins would still be hard to get even if the DAC starts out with a large pool.


I like this idea but it's been a long day so I can't think it out completely lol.
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Offline MrJeans

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Re: Poker DAC
« Reply #9 on: December 30, 2013, 09:03:37 PM »
wow, check out how much people love to gamble when its online and easy to access.

http://earthdice.tk/

Offline Bitcoinfan

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Re: Poker DAC
« Reply #10 on: December 30, 2013, 11:21:23 PM »
bytemaster is already workign on something like this i believe called luckyshares.  Nothing has been released yet.  Search it up if your curious

Offline fran2k

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Re: Poker DAC
« Reply #11 on: December 31, 2013, 04:08:11 AM »
This has been already proposed and this guy who is very intelligent is developing this coin.

Qixcoin
Witness: rmglab /// Buenos Aires BTS Meetup http://www.meetup.com/es-ES/BitSharesBA/ /// [old BTS 1.0 chain] Delegate bitshares-argentina (ex argentina-marketing-matt608) Thread https://bitsharestalk.org/index.php/topic,15781.0.html

 

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